Raw Sugar (Suspended January 30, 2015) - Contract Specifications

Date of Listing

February 12, 2013

Type of Trade

Physically Delivered Futures Transaction

Standard

Raw centrifugal cane sugar of a polarization of 96 degrees produced outside of Japan (not cleared through customs)

Trading Method

Computerized individual auction (Multiple executions)

Contract Months

All odd months within a twelvemonth period starting from 3 months after the month containing the First Trading Day of a new contract month

Last Trading Day

Day session on the last business day of the month that is 2 months before the current contract month

First Trading Day of a New Contract Month

Day session on the next business day of the Last Trading Day of the current contract month.

Delivery Day

The business day (by noon) immediately preceding the first scheduled day for delivery between the 15th day of the month (or the previous business day in case of being a holiday) immediately preceding the current contract month to the last day of the current contract month

Method of Delivery

The Party Making Delivery submits to the Exchange a bill of lading, delivery order or other delivery document for the delivery goods. The Party Taking Delivery submits to the Exchange the Delivery Value based on the delivery price.

Delivery Points

The ports of Tokyo, Chiba, Yokohama, Kinuura, Shimizu, Nagoya, Izumisano, Sakai, Osaka, Kobe, Uno, Moji, Hakata, and Hososhima

Trading Hours

Day Session
Opening Call Auction (Ita-awase) : 8:45 a.m. (JST)
Continuous Trading (Zaraba) : 8:45 a.m. to 3:10 p.m. (JST)
Closing Call Auction (Ita-awase) : 3:15 p.m. (JST)
Night Session
Opening Call Auction (Ita-awase) : 4:30 p.m. (JST)
Continuous Trading (Zaraba) : 4:30 p.m. to 5:25 a.m. of the following morning (JST)
Closing Call Auction (Ita-awase) : 5:30 a.m. of the following morning (JST)

Contract Unit

50,000 kg

Delivery Unit

50,000 kg

Price Increment

JPY 10 per 1,000 kg

Circuit Breaker Trigger Level (Static Circuit Breaker (SCB) Level)

The SCB trigger level is to be set everyday at the start of a new clearing period (i.e.the start of a night session at 16:30) and is based on the settlement price of the previous clearing period (or the settlement price of the preceding contract month, in case of a new contract month)

Immediately Executable Price Range (Dynamic Circuit Breaker (DCB) Level)

The DCB trigger level is to be set based on DCB Reference Price (the last traded price,in principle)

Margin

As SPAN Margining System started from January, 2011, Japan Commodity Clearing House (JCCH) sets its parameters (variables) for the basis of the margin calculation.

Position Limits (separately for long and short positions)

[Proprietary Trades]*
1,200 per contract month

[Customers excluding commercials and investment trusts]
1st contract month (expiry month): 50
1st contract month (month before expiry month): 100
2nd contract month: 300
3rd contract month : 500
4th contract month and thereafter (each): 700

[Customers (Investment trusts, etc)]
1st contract month (expiry month): 50
1st contract month (month before expiry month): 100
2nd contract month: 300
3rd contract month: 1,000
4th contract month and thereafter (each): 1,500

[Customers (Commercials)]
1,200 contracts per contract month

*Proprietary trades to be conducted by Members.

Ticker Symbol

TOCOM Product Code: 211
Reuters Contract Detail: TCE/JSG
Bloomberg Tickers: JRA

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